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20/01/2022
SEBI launches Saa₹thi mobile app on investor education
17/01/2022
Extension of last date for complying with the mandatory CPE hours’ requirements for the Calendar Year 2021 - ICAI
Bombay HC sets aside rejection of refund claims by GST authorities
15/01/2022
Budget session of Parliament to commence on 31st January
Delhi Man Arrested For Issuing Fake GST Invoices Worth Rs. 4,521 Cr
11/01/2022
CBDT extends due dates for filling Audit reports and IT Returns for 2021-22
06/01/2022
Tax Audit Due Date Extension - Retweet / Comments
SEBI encourages investors to file their complaints through SCORES portal
Xiaomi Technology India Pvt Ltd evades customs duty of Rs 653 Cr - FinMin
 
 
  Notification/Circulars
20/01/2022
Computation of capital gains for the purposes of sub-section (1B) of section 45
CBDT amend the Securities Transaction Tax Rules, 2004
CBDT notifies e-advance rulings Scheme, 2022
Guidelines under clause (10D) section 10 of the Income-tax Act, 1961 - CBDT
14/01/2022
Delhi Govt includes Chartered Accountants & Income Tax Practitioners in Exempted category
07/01/2022
Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure Standards and Net Stable Funding ratio
06/01/2022
Master Circular - Bank Finance to Non-Banking Financial Companies (NBFCs)
05/01/2022
Retail Direct Scheme – Market Making - RBI
Article Details
GSTR-2B for the month of July 2020

Launch of GSTR-2B for the month of July 2020

 

The GST Council, in its 39th meeting held on 14th March 2020, had recommended to adopt and implement the incremental approach of linking the present system of filing of GSTR-3B and GSTR-1 and other significant changes like enhancements in GSTR-2A and its linking to GSTR-3B. One such enhancement that the Council recommended was introduction of an auto-drafted input tax credit (ITC) statement which would aid in assisting / determining the input tax credit that is available for every taxpayer.

GSTR-2B is going to be such an auto-drafted ITC statement which will be generated for every registered person on the basis of the information furnished by his suppliers in their respective GSTR-1, 5 (non-resident taxable person) and 6 (input service distributor). It is a static statement and will be made available for each month, on the 12thday of the succeeding month.It is expected that GSTR-2B will help in reduction in time taken for preparing return, minimising errors, assist reconciliation & simplify compliance relating to filing of returns.

Key features in GSTR-2B which would assist taxpayers in return filing are as under:

      1. It contains information on import of goods from the ICEGATE system including inward supplies of goods received from Special Economic Zones Units / Developers. This is not available with the release of GSTR-2B for the month of July and will be made available shortly.
      2. A summary statement which shows all the ITC available and non-available under each section. The advisory given against each section clarifies the action to be taken by the taxpayers in their respective section of GSTR-3B;
      3. Document level details of all invoices, credit notes, debit notes etc. is also provided both for viewing and download;